Market Analysis: Potatoz NFT on The Rise

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In drawing the crypto market to an end this week, Potatoz NFT had the sweetest experience in the market. The NFT collection rose astronomically to dethrone leading collections from the top of the log as it ensured its dominance at the top of the log for the 24-hour window.

Potatoz NFT created by the “Largest meme community on the internet”

Created by Memeland, a is 9GAG’s moniker in the world of Web3. 9GAG is a Hong Kong-based social media platform, acclaimed as “the largest meme community on the internet”. Their name comes from a Cantonese slang term that means to crack jokes.

Remember that Potatoz, an NFT project earlier this month, released a series of 9,999 utility-enabled PFP artworks. Of that, the collection recorded 2201 transactions in 24 hours to do a whopping $2.9 million in transaction volume. The collection beat the Bored Ape Yacht Club (BAYC) and Otherdeed to second and third spots respectively. 

NBA Top Shots tops Fan Tokens

Above all, despite the domination of collections on the Ethereum blockchain, NBA Top Shot, recorded the most sales volume on the Flow blockchain. The NBA Top shot collection previously recorded 22,847 transactions in the time-space and $424,000 in total sales volume. And it leapfrogged popular collections like Art Blocks,  Moonbird Oddities, and CryptoPunk to stay 8th on the log.

Related Post: Market Analysis: Moonbird Oddities Beat The Odds

Ethereum Maintains The Top Spot

On the log of sales volume of blockchains, Ethereum still maintains its stranglehold of the market, recording over $19 million in sales volume despite dropping in transaction volume by 1% in the past 24 hours. Ethereum did this in 26,217 transactions, beating its closest rival Solana, which stayed at a distant sales volume of $1.9 million in 41,000 transactions.

Still, on the log, Flow retains the third position after a decent market outing, recording a $694,000 sales volume in 33,000 transactions, to beat the likes of BNB,  Panini, Ronin, ImmutableX, Wax, Polygon, and Palm to a distant fourth, fifth, sixth, seventh, eighth, ninth and tenth respectively.

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